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The Deal Magazine

John Kay's Critique of the Equity System

Robert Teitelman | Posted 10.05.2012 | Business
Robert Teitelman

Relationships become contractual and riven by informational asymmetries. And callous self-interest is freed from the restraints of what should be a fiduciary or -- this is the heart of Kay's vision -- a sense of stewardship. What's lost? Any sense of the longer-term.

An Anarchist on Stagnation

Robert Teitelman | Posted 06.15.2012 | Books
Robert Teitelman

The stagnation thesis is interesting; at the very least it forces us to revisit and question how we attempt to further exploit nature and how this process, innovation, really occurs. But to base it all on a feeling of disappointment, based on childhood fantasies, is a bit rich.

Jonathan Schlefer's The Assumptions Economists Make

Robert Teitelman | Posted 07.10.2012 | Business
Robert Teitelman

This isn't heading to the bestseller lists -- but so what? Schlefer is waving a flashlight beam in a musty attic. As Alan Greenspan's public persona suggests, economics takes a perverse pride in obscurity and opacity.

The New York Times Worries About Stock Trading

Robert Teitelman | Posted 07.08.2012 | Business
Robert Teitelman

The real problem here is not necessarily the underlying economy -- does anyone really think stock markets accurately reflect the state of the real economy? -- but the structure and dynamics of the markets themselves.

Prizes, Central Banking and Some Thoughts on Equilibrium

Robert Teitelman | Posted 04.30.2012 | Business
Robert Teitelman

The pretense is that through some deliberative and democratic magic, the prize is bestowed correctly. In short, there's equilibrium out there at every moment that the market is reaching for. Unfortunately, for both markets and prizes, humanity makes the call.